Unibail-Rodamco-Westfield
Market Cap
€9.2b
Last Updated
2020/06/04 01:19 UTC
Data Sources
Company Financials +
Executive Summary
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.3 Bn as at December 31, 2019, of which 86% in retail, 6% in offices, 5% in convention & exhibition venues and 3% in services.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with moderate growth potential.
Similar Companies
Share Price & News
How has Unibail-Rodamco-Westfield's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: URW's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
30.5%
URW
26.7%
NL REITs
4.9%
NL Market
1 Year Return
-50.7%
URW
-48.5%
NL REITs
-9.1%
NL Market
Return vs Industry: URW exceeded the Dutch REITs industry which returned -55.2% over the past year.
Return vs Market: URW underperformed the Dutch Market which returned -11.3% over the past year.
Shareholder returns
| URW | Industry | Market | |
|---|---|---|---|
| 7 Day | 30.5% | 26.7% | 4.9% |
| 30 Day | 28.1% | 26.6% | 11.4% |
| 90 Day | -32.7% | -31.4% | -0.07% |
| 1 Year | -43.9%-50.7% | -42.0%-48.5% | -6.1%-9.1% |
| 3 Year | n/a | 0.2%-12.5% | 6.8%-4.1% |
| 5 Year | n/a | 8.3%-13.7% | 27.1%3.2% |
Price Volatility Vs. Market
How volatile is Unibail-Rodamco-Westfield's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 months ago | Simply Wall St
If You Had Bought Unibail-Rodamco-Westfield (AMS:URW) Stock A Year Ago, You'd Be Sitting On A 20% Loss, Today7 months ago | Simply Wall St
Should Unibail-Rodamco-Westfield (AMS:URW) Be Part Of Your Dividend Portfolio?8 months ago | Simply Wall St
Volatility 101: Should Unibail-Rodamco-Westfield (AMS:URW) Shares Have Dropped 26%?Valuation
Is Unibail-Rodamco-Westfield undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: URW (€66.54) is trading below our estimate of fair value (€141.88)
Significantly Below Fair Value: URW is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: URW is good value based on its PE Ratio (8.3x) compared to the REITs industry average (12.5x).
PE vs Market: URW is good value based on its PE Ratio (8.3x) compared to the Dutch market (15.4x).
Price to Earnings Growth Ratio
PEG Ratio: URW is good value based on its PEG Ratio (0.3x)
Price to Book Ratio
PB vs Industry: URW is good value based on its PB Ratio (0.3x) compared to the NL REITs industry average (0.4x).
Next Steps
Future Growth
How is Unibail-Rodamco-Westfield forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
32.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: URW's forecast earnings growth (32.9% per year) is above the savings rate (0.4%).
Earnings vs Market: URW's earnings (32.9% per year) are forecast to grow faster than the Dutch market (20.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: URW's revenue is expected to decline over the next 3 years (-5.7% per year).
High Growth Revenue: URW's revenue is forecast to decline over the next 3 years (-5.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: URW's Return on Equity is forecast to be low in 3 years time (7.9%).
Next Steps
Past Performance
How has Unibail-Rodamco-Westfield performed over the past 5 years?
-10.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: URW has a large one-off loss of €1.4B impacting its December 31 2019 financial results.
Growing Profit Margin: URW's current net profit margins (33.4%) are higher than last year (30.8%).
Past Earnings Growth Analysis
Earnings Trend: URW's earnings have declined by -10.3% per year over the past 5 years.
Accelerating Growth: URW's earnings growth over the past year (7%) exceeds its 5-year average (-10.3% per year).
Earnings vs Industry: URW earnings growth over the past year (7%) underperformed the REITs industry 9.7%.
Return on Equity
High ROE: URW's Return on Equity (3.5%) is considered low.
Next Steps
Financial Health
How is Unibail-Rodamco-Westfield's financial position?
Financial Position Analysis
Short Term Liabilities: URW's short term assets (€3.9B) do not cover its short term liabilities (€4.9B).
Long Term Liabilities: URW's short term assets (€3.9B) do not cover its long term liabilities (€28.3B).
Debt to Equity History and Analysis
Debt Level: URW's debt to equity ratio (85.2%) is considered high.
Reducing Debt: URW's debt to equity ratio has reduced from 90.9% to 85.2% over the past 5 years.
Debt Coverage: URW's debt is not well covered by operating cash flow (7%).
Interest Coverage: URW's interest payments on its debt are well covered by EBIT (5.1x coverage).
Balance Sheet
Next Steps
Dividend
What is Unibail-Rodamco-Westfield's current dividend yield, its reliability and sustainability?
10.26%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate URW's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate URW's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if URW's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if URW's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: URW is not paying a notable dividend for the Dutch market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of URW's dividend in 3 years as they are not forecast to pay a notable one for the Dutch market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.5yrs
Average management tenure
CEO
Christophe Cuvillier (57yo)
7.17yrs
Tenure
€4,541,944
Compensation
Mr. Christophe Cuvillier has been Chairman of Management Board at Unibail-Rodamco-Westfield SE (formerly, Unibail-Rodamco SE) since April 25, 2013 and serves as its Chief Executive Officer. Mr. Cuvillier s ...
CEO Compensation Analysis
Compensation vs Market: Christophe's total compensation ($USD5.08M) is about average for companies of similar size in the Dutch market ($USD4.85M).
Compensation vs Earnings: Christophe's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group CEO & Chairman of Management Board | 7.17yrs | €4.54m | 0.078% €7.2m | |
| Group CFO & Member of Management Board | 7.92yrs | €2.53m | 0.010% €927.4k | |
| Group Director of Investor Relations | no data | no data | no data | |
| Group Director of Legal | no data | no data | no data | |
| Group Director of Communication and Public Affairs | no data | no data | no data | |
| Group Director of Human Resources & Organization | no data | no data | no data | |
| Chief Operating Officer - Europe | no data | €927.66k | no data | |
| Group Chief Development Officer | 7.17yrs | €2.12m | no data | |
| Managing Director of Central Europe & Austria | no data | no data | no data | |
| Group Finance Director & CFO Europe | 19.42yrs | €1.06m | no data |
7.5yrs
Average Tenure
56yo
Average Age
Experienced Management: URW's management team is seasoned and experienced (7.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Supervisory Board Member | 2yrs | €113.50k | no data | |
| Independent Supervisory Board Chairman | 3.17yrs | €298.50k | no data | |
| Independent Supervisory Board Member | 3.17yrs | €99.50k | no data | |
| Independent Vice-Chairman of the Supervisory Board | 0.083yr | €120.00k | no data | |
| Independent Supervisory Board Member | 3.17yrs | €103.50k | no data | |
| Independent Supervisory Board Member | 2.08yrs | €116.00k | no data | |
| Independent Supervisory Board Member | 5.17yrs | €97.00k | no data | |
| Independent Supervisory Board Member | 6.17yrs | €108.50k | no data | |
| Independent Supervisory Board Member | 5.17yrs | €103.50k | no data | |
| Independent Member of Supervisory Board | no data | no data | 0.00022% €20.3k |
3.2yrs
Average Tenure
57yo
Average Age
Experienced Board: URW's board of directors are considered experienced (3.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Unibail-Rodamco-Westfield's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Unibail-Rodamco-Westfield
- Ticker: URW
- Exchange: ENXTAM
- Founded: 1968
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €9.209b
- Shares outstanding: 138.40m
- Website: https://www.urw.com
Number of Employees
Location
- Unibail-Rodamco-Westfield
- 7 place du Chancelier Adenauer
- CS 31622
- Paris
- Ile-de-France
- 75772
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| URW | ASX (Australian Securities Exchange) | CDI 20:1 | AU | AUD | May 2018 | |
| URW | CHIA (Chi-X Australia) | CDI 20:1 | AU | AUD | May 2018 | |
| UNIR.F | OTCPK (Pink Sheets LLC) | CDI 20:1 | US | USD | May 2018 | |
| URW | ENXTAM (Euronext Amsterdam) | Yes | Stapled Securities | NL | EUR | Jun 2018 |
| 1BR1 | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Jun 2018 |
| URW | BIT (Borsa Italiana) | Yes | Stapled Securities | IT | EUR | Jun 2018 |
| URW N | BMV (Bolsa Mexicana de Valores) | Yes | Stapled Securities | MX | MXN | Jun 2018 |
| URWA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Stapled Securities | GB | EUR | Jun 2018 |
| UL | WBAG (Wiener Boerse AG) | Yes | Stapled Securities | AT | EUR | Jun 2018 |
| 0YO9 | LSE (London Stock Exchange) | Yes | Stapled Securities | GB | EUR | Jun 2018 |
| 1BR1 | SWX (SIX Swiss Exchange) | Yes | Stapled Securities | CH | CHF | Jun 2018 |
| UNBL.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Securities | US | USD | Jun 2018 |
Biography
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.3 Bn as at December 31, 2019, of which 86% in retail, 6% in offices, 5% in convention & exhibition venues and 3% in services. Currently, the Group owns and operates 90 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on 2 continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers. With the support of its 3,600 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. As at December 31, 2019, the Group had a development pipeline of €8.3 Bn. Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities. Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an A- rating from Standard & Poor’s and from an A3 rating from Moody’s.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/04 01:19 |
| End of Day Share Price | 2020/06/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.